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Walgreens Boots Alliance Guides FY20 EPS Below Estimates: Boosts Qtly. Dividend - Quick Facts

While reporting financial results for the third quarter on Thursday, Walgreens Boots Alliance, Inc. (WBA) initiated its adjusted earnings guidance for the full-year 2020, below analysts expectations.

For fiscal 2020, the company now expects adjusted earnings in a range of $4.65 to $4.75, including estimated adverse COVID-19 impacts of $1.03 to $1.14 per share and the continued adverse impacts in the fourth quarter.

Previously, the company expected roughly flat growth in adjusted earnings per share at constant currency rates, with a range of plus or minus 3 percent. The company reported adjusted earnings of $5.99 per share in 2019.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.42 per share for the year. Analysts' estimates typically exclude special items.

The company also increased its quarterly dividend by 2.2 percent to 46.75 cents per share, payable on September 11 to stockholders of record as of August 19, 2020, and raises the annual rate to $1.87 per share from $1.83 per share.

The company also announced that it was suspending activity under its share repurchase program.

Additionally, the company increased annual cost savings target from the Transformational Cost Management Program to in excess of $2.0 billion by fiscal 2022, from previous target in excess of $1.8 billion.

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